Neuroleptics Market Size To Reach USD 15.84 Billion By 2028 – Reports And Data

Increase in health awareness is expected to be a prime factor driving the market growth

NEW YORK, NY, UNITED STATES, November 9, 2021 /EINPresswire.com/ -- The global Neuroleptics Market is estimated to reach USD 15.84 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the rising incidence of psychosis and other related diseases. The major factors responsible for the rising incidence of these disorders include substance-induced psychoses, genetic mutations, and physical illness that lead to depression. Growing drug abuse, addiction to Neuroleptics drugs and over prescription of drugs are also some of the notable factors that are contributing to the growth of the market. Additional factors such as high investments in research and development and the introduction of new and developed Neuroleptics compounds are expected to stimulate the market growth further.

Anti-psychotic drugs, also called neuroleptics or tranquilizers, are a particular type of medication that is used for treating schizophrenia or bipolar disorder mostly. They are used to treat psychosis, including delusions, hallucinations, and disordered thought of paranoia, among others. These drugs prevent the dopamine receptors in the dopaminergic pathways of the brain, by controlling the effect of dopamine, which is directly connected to the psychotic encounters. The growing predominance of mental illness meanwhile has led to massive consumption of Neuroleptics. National Alliance of Mental Illness conducted a research in 2015 which says, 1 in 5 adults is experiencing mental issues. However, use of these drugs for a long time can result in side effects like involuntary movement disorder and metabolic syndrome, eventually leading to rising mortality in the population with dementia.

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North America accounts for the largest market share of 22.30% in 2020. It is expected to grow at a CAGR of 1.81% during the forecast period. Many people with physical disorders suffer from co-occurring disorders. An increasing predominance of mental health disorders, such as bipolar disorder and schizophrenia, is driving the growth of the Neuroleptics market in North America.

Top Companies operating in the market and profiled in the report include:

AstraZeneca, GlaxoSmithKline, Eli Lilly, Johnson & Johnson, Alkermes, Actavis Generics, Bristol-Myers Squibb, Allergen, Otsuka and Pfizer.

The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.

Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Neuroleptics market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.

Further key findings from the report suggest

• Neuroleptics drugs are used as medicines to treat severe mental health conditions such as psychosis as well as other mental and emotional disorders. They are also prescribed to treat pain and stubborn hiccoughs that can occur from restlessness during palliative care.

• It helps to manage the symptoms of psychosis along with less severe mental health conditions such as mood and bipolar disorder that may grow into later psychosis. These drugs decrease or increase the impact of neurotransmitters in the brain to regulate levels according to the need. Neurotransmitters help to transfer information throughout the brain. The neurotransmitters affected include noradrenaline, dopamine, and serotonin.

• Psychosis is a critical mental condition where a patient loses contact with reality. The disease often includes delusions or hallucinations. The patient may often hear voices and sounds that aren’t there when encountering hallucinations, while delusions related to psychosis involves perceptions or thoughts that aren’t based on reality.

• Schizophrenia under the disease segment accounts for the largest market share of 39.30% in 2020. It is a type of mental disorder described by false thinking, hearing imaginary voices, the decrease in social engagement, and absence of motivation.

• A person with schizophrenia can also suffer from other mental health problems such as major depressive disorder (MDD), anxiety disorder, and substance use disorder.

• The Depression sector of the disease segment accounts for the second largest share of 32.20% in 2020 and is one of the major factors that are driving the market growth.

• The second generation accounts for the largest share of 37.86% in 2020. It is also known as atypical Neuroleptics that include risperidone, paliperidone, clozapine, asenapine, sertindole, olanzapine, quetiapine. These are used for the treatment of schizophrenia and have swiftly begun replacing the older, first-generation Neuroleptics.

• Second generation product are also known as atypical agents. They act as broad-spectrum antagonists of dopamine, alpha-noradrenergic and serotonin receptors.

• The market players are primarily focused on developing new technologies to meet the requirements of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.

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For the purpose of this report, Reports and Data have segmented global Neuroleptics Market on the basis of Product, End User, Disease, and region:

End User Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028 )

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028 )

• First-generation Drugs
• Second-generation Drugs
• Third-generation Drugs

Disease Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028 )

• Schizophrenia
• Unipolar Depression
• Bipolar Disorder
• Dementia
• Others

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The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.

Key Regions Assessed in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Germany, Italy, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report further segments the global Neuroleptics market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.

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